Insider Selling: Grid Dynamics (NASDAQ:GDYN) COO Sells $10,532.70 in Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) COO Yury Gryzlov sold 1,245 shares of the firm’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $8.46, for a total transaction of $10,532.70. Following the completion of the transaction, the chief operating officer directly owned 500,139 shares of the company’s stock, valued at $4,231,175.94. This represents a 0.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Yury Gryzlov also recently made the following trade(s):

• On Thursday, September 3rd, Yury Gryzlov sold 3,918 shares of Grid Dynamics stock. The stock was sold at an average price of $8.00, for a total value of $31,344.00.
• On Tuesday, August 18th, Yury Gryzlov sold 467 shares of Grid Dynamics stock. The shares were sold at an average price of $7.53, for a total value of $3,516.51.
• On Thursday, August 13th, Yury Gryzlov sold 3,930 shares of Grid Dynamics stock. The shares were sold at an average price of $8.00, for a total value of $31,440.00.

Grid Dynamics Trading Down 1.9%

NASDAQ:GDYN opened at $7.67 on Thursday. Grid Dynamics Holdings, Inc. has a 12-month low of $5.11 and a 12-month high of $10.21. The firm has a market cap of $622.27 million, a PE ratio of 383.69 and a beta of 0.97. The stock has a fifty day moving average price of $7.78 and a 200 day moving average price of $6.69.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. The company had revenue of $108.16 million for the quarter, compared to the consensus estimate of $106.55 million. Grid Dynamics had a return on equity of 1.90% and a net margin of 0.68%. Equities analysts forecast that Grid Dynamics Holdings, Inc. will post 0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GDYN shares. Zacks Research raised shares of Grid Dynamics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Grid Dynamics in a report on Friday, July 31st. JPMorgan Chase & Co. increased their price objective on shares of Grid Dynamics from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. TD Cowen raised their price objective on shares of Grid Dynamics from $8.00 to $9.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Needham & Company LLC lifted their price objective on shares of Grid Dynamics from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.40.

Institutional Investors Weigh In On Grid Dynamics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC purchased a new stake in Grid Dynamics during the second quarter worth approximately $75,000. Squarepoint Ops LLC purchased a new position in Grid Dynamics in the second quarter valued at approximately $2,702,000. Public Employees Retirement System of Ohio purchased a new position in Grid Dynamics in the second quarter valued at approximately $234,000. Summit Creek Advisors LLC acquired a new stake in Grid Dynamics during the second quarter worth approximately $2,452,000. Finally, FNY Investment Advisers LLC acquired a new stake in Grid Dynamics during the second quarter worth approximately $99,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

About Grid Dynamics

Grid Dynamics Holdings, Inc (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises modernize their businesses through software development, cloud computing, data and analytics, and artificial intelligence. The company designs and builds technology platforms intended to improve operational efficiency, customer experiences, and the use of enterprise data.

Its services include digital commerce and customer experience solutions, cloud and data engineering, machine learning and artificial intelligence, application modernization, and software product development.